Did You Know?
There are currently over 170 pieces of legislation that, as a landlord you may need to comply with when letting a property.
It doesn’t matter if you are a new or established landlord, in these times of evolving housing legislation it is easy to make a minor mistake that could leave you open to large fines or problems regaining possession of your property.
Even as ARLA Propertymark members and qualified agents, the government are keeping us on our toes with regulatory changes. I don’t know how a private landlord with other commitments in their life manages to keep up!
How confident are you that the tenancy agreement you have includes all the relevant clauses?
Is your energy performance certificate valid?
Did you give your tenant the EPC and Gas Safety at the start of the tenancy?
Did you give your tenant the prescribed information when registering their deposit?
Did you give them the latest copy of the government “how to rent checklist”?
Have you got an EICR?
Is your deposit more than 5 week rent?
Not doing just one of these correctly could open you up to the risk of being fined up to 3 x time the deposit, and potentially lead to a long, drawn out and costly process when trying to regain possession of your property even if the tenant has stopped paying the rent.
This does not make you a bad landlord. I am sure you have tried your best to comply and you maintain your property well, you have registered the deposit and you have a gas safety certificate. However, in these ever-changing times landlords need more support from a professional. Using an agent to just find you a tenant then leaving the tenancy to tick over periodically is no longer a safe option.
It is not just a case of complying with current legislation, you also need to keep a comprehensive paper trail showing in detail, how, when and where you complied with each requirement. This is needed at all stages of the tenancy right from the initial contact point through to the end of the tenancy and the deposit return.
The courts are stretched and should you ended up there the onus is always on the landlord to provide concise clear proof, they will not go in search for evidence.
OB Property are offering a FREE, no obligation review of your tenancy documentation and your management procedures. We will review your current contract, check the paperwork and give you a check list of items that require attention.
Many of these items you will be able to rectify yourself. For those you cannot for the first 10 people to book these reviews we will;
- update the paperwork for you free of charge, including new tenancy agreement, deposit protection, and prescribed information.
- help you arrange any certificates you are missing.
- provide reminders for certificates, and management support free of charge for the next 12 months or until the current tenant vacates.
Anyone else booking a review that requires additional help completing the checklist, we will provide our service and support at 50% discount for the next 12 months or until the current tenant vacates.